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PurchaseSoft to shutter

Published on December 21, 2001.

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Westborough, Mass.--B-to-b e-procurement software developer PurchaseSoft Inc. announced it will go out of business. Over the past week, the company has laid off half its staff and has been searching for adequate last-ditch financing, to no avail. The company said it has fired all but a handful of executives, who will assist in the closing of operations.